Solazyme, Mitsui to jointly develop triglyceride oils

The $20 million, multi-year agreement includes further development of Solazyme’s breakthrough high myristic algal oil, a valuable raw material in the oleochemical industry, as well as additional oils that Solazyme is developing for the oleochemical and industrial sectors, according to the companies.

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US renewable oil and bioproducts company Solazyme is
teaming up with Japan-based Mitsui & Co. to jointly
develop a suite of triglyceride oils for use primarily in the
oleochemical industry, the companies said on
Thursday.

The $20 million, multi-year agreement includes further
development of Solazymes breakthrough high myristic algal
oil, a raw material in the oleochemical industry, as well as
additional oils that Solazyme is developing for the
oleochemical and industrial sectors.

Mitsuis extensive knowledge of the end use markets
for the jointly-developed triglyceride products, including both
the oleochemical industry and applications further downstream,
makes Mitsui an ideal fit for Solazyme, said Jonathan
Wolfson, CEO of Solazyme. We look forward to rapid
progress on our research and development efforts, and to
commercialize these novel products thereafter.

Product development is expected to span a multi-year period,
with periodic product introductions throughout the term of the
joint development alliance, according to the
companies.

End use applications may include renewable, high-performance
polymer additives for plastic applications, aviation
lubricants, and toiletry and household products.

Collaborating with Solazyme allows us to develop
highly attractive products to penetrate the traditional
oleochemicals industry, and expand beyond the supply
limitations caused by both regional oil production and
constraints in conventional oil profiles," said Daiji
Kojima, general manager of Mitsui's specialty chemicals
division.

"Solazymes flexible manufacturing process and oil
tailoring capabilities helps to support long-term
competitiveness, independent of price swings inherent to this
industry, while allowing us to produce tailored oils that are
in demand in the marketplace, he continued.

"Mitsui looks forward to strengthening its position in the
oleochemicals industry through the successful development and
commercialization of these novel products as a potential source
of new sustainable materials to oleochemical companies."

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